Insider Observations

Insider trading volume remained light this past week as insiders are busy preparing for upcoming earnings reports and conference calls and giving their stockbrokers a break. Insider buying dropped at a faster rate than selling but the sentiment remains neutral (S/B Ratio 1.1).

We upgraded 3 stocks and downgraded 3 also. There doesn’t appear to be any common theme among the upgrades. Two of the three downgrades however were once SPAC’s in a prior life, and are now operating companies having completed their mergers.

We have begun to see meaningful selling in several former SPAC’s, as well as some buying. It has been an active year for SPAC’s as well as IPO’s and direct listings. While insider activity at the time a company goes public is often not that interesting, six to twelve months after when nobody’s looking, it can be revealing. We are tracking this data and will be putting it in a format that is easy for clients to view.

This is a short summary of our Highlights report for the US market which we send to our clients every Monday. If you are interested in it, please, email us to or fill in the Contact form.

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